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...Senate looks to be on track to pass a bill that sounds almost exactly like what President Barack Obama asked for last month. The measure - now heralded as $780 billion, down from $890 billion - will include about 40% in tax cuts and more than 80% of the spending will flood the faltering economy within the next 18 months. But with just three Republican votes, the bill falls well short of the bipartisan goal Obama worked hard to achieve...
...final cost of the bill remained fuzzy late Friday as Senators scrambled to figure out how three amendments the Senate has already passed, estimated to add at least another $30 billion more in spending, would affect the total. Ten additional pending amendments could also alter the overall number. Democrats estimate the total in the end could range from $780 billion to $820 billion; Republican leaders said they believe the bill would cost more than $827 billion even before other amendments are added. (See the top 10 financial collapses...
Nevertheless, the deal has three GOP votes in the Senate in its support - three more than the President got in the House. They come at a cost. Depending on what the final bill amounts to, the deal could cost more than $35 billion in cuts per Republican vote. And that's after the Dems removed several provisions at the G.O.P. senators' request - from family planning for low-income women to money to restore the National Mall. Senator Susan Collins, the lead Republican negotiator said that minuscule support from her party proved how hard it will be for Obama to overcome...
...President made an unprecedented trip to the Hill to meet with the Republican conferences, invited select GOP Senators to meet him with him in the Oval Office, at times one-on-one, and called numerous senators to convince them to come on board. In recent days, though, as the bill languished before the Senate his tone turned sharper. "The American people did not choose more of the same," Obama said at a White House meeting Friday announcing his Economic Recovery Advisory Board. "They did not send us to Washington to get stuck in partisan posturing, or to turn back...
White House chief of staff Rahm Emanuel attended the Democratic caucus' briefing on the compromise and senators said he pushed hard for their support. Emanuel, a former House leader still popular with his ex-colleagues, may help win backing for the bill from House Dems upset over the loss of funding for their projects. Obama will also hit the road to sell the stimulus, visiting Elkhart, Ind., and Fort Myers, Fla., early next week. Elkhart has one of the highest unemployment rates in the country - at, 15.3%, dramatically up from 4.7% a year ago. Fort Myers has an unemployment rate...